Ann: Refinancing Extension of Notes and Re-investment, page-17

Nah, it says if converted the maximum shares from JUST these new notes (the old notes are still in tact also, the annexure 3 shows all new issues)

The old notes get an extra 80 days to be converted, which can be converted as 105% cash (total gain 15% because face value is 90c on the dollar) or into shares (which had a previously capped maximum of 25mil (price of 4c per share)) but now is proposed to be uncapped if investors approve, which would then be converted at face value in $ at the current VWAP -10%.

Please read the entire documents, this financing is pretty weird for a company with lots of cash. It's short term, with immediate losses on face value and a large cap on share conversion.
EDIT: Addn info - read the proposed issue statements and you'll see there. 50mil in colateral shares and both of the new note issues (to be added to the 2.6million notes already out).